Susquehanna Securities, LLC has agreed to pay a fine of $12,000 due to alleged violations of Cboe Exchange rules.
During all relevant periods herein and during in or about December 2023, (the “Review Period”), the firm failed to report 24 transactions executed on the floor within 90 seconds of execution.
These acts and practices constitute violations of Exchange Rule 6.1 by the firm, in that the firm failed to timely report transactions executed on the floor.
During the Review Period, the firm failed to establish, maintain, and enforce written supervisory procedures (“WSPs”), and a supervisory system reasonably designed to prevent and detect violations of applicable Exchange rules that require transactions be reported to the Exchange within 90 seconds of execution in a form and manner prescribed by the Exchange. In particular, the firm did not have any procedures and/or a review process in place to ensure compliance with Cboe Rule 6.1.
This conduct constitutes violation of Exchange Rule 8.16 by the firm, in that the firm failed to establish, maintain, and enforce WSPs, and a system for applying such procedures, reasonably designed to prevent and detect violations of the timely transaction reporting requirement set forth in Exchange Rule 6.1.
In light of the alleged rule violations described above, the firm consents to the imposition of a censure and a monetary fine in the amount of $12,000.
